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congress has decided to ease up a bit, give a three-month extension so we can lift that debt ceiling for the next three months. that will back us into, by the way, the whole idea of sequestration and dealing with the debt crisis on a more firm note in about three months. so they're giving the president, they're giving everyone a little bit of time right now to work it through. i'm sure the president is grateful for that. but for right now, vice president biden, of course, has just taken his oath of office which is very important not only because it's nice to know the vice president's all lined up. but remember, joe biden becomes a very important person to look at over the next four years because there's talk of him running for the presidency four years from now. a lot of that will depend on what hillary clinton does. she's sort of the gorilla in the room right now. but substantively right now, there's not too much going on, only because everyone is involved with the pageantry. lots of streets blocked off. they're expecting about 700,000 people this year. which seems a large number. b
congress has decided to ease up a bit, give a three-month extension so we can lift that debt ceiling for the next three months. that will back us into, by the way, the whole idea of sequestration and dealing with the debt crisis on a more firm note in about three months. so they're giving the president, they're giving everyone a little bit of time right now to work it through. i'm sure the president is grateful for that. but for right now, vice president biden, of course, has just taken his...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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. >> goodbye fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan.
. >> goodbye fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have...
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. >>> there are answers for renewed calls for congress to raise the debt ceiling. for more on that and a look at the world markets and how they did overnight, we turn to seema mody at cnbc world headquarters. >> good morning to you. let's start with markets. futures lower after a mixed session on monday. as you pointed out apple weighing on tech on reports that it is cutting component costs but dell took others higher on talks it's in talk with several firms. we get a trio of federal reserve officials speaking out about the economy today. the dow rising 18 points in yesterday's trade and nasdaq slipping eight to close at 3117. here's our top story. treasury secretary tim geithner is calling on congress to raise the debt ceiling. in a letter to lawmakers geithner says it could cause harm to the u.s. economy. the government will run out of tools to avoid defaulting on debt sometime in late february or early march. that would mean social security and other government benefit checks would stop going out. fed chairman ben bernanke is joining the cause saying the economy
. >>> there are answers for renewed calls for congress to raise the debt ceiling. for more on that and a look at the world markets and how they did overnight, we turn to seema mody at cnbc world headquarters. >> good morning to you. let's start with markets. futures lower after a mixed session on monday. as you pointed out apple weighing on tech on reports that it is cutting component costs but dell took others higher on talks it's in talk with several firms. we get a trio of...
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he offered a solution for the president's dilemma on the debt ceiling. >> the final press conference was held this morning and he talked about the debt ceiling announcing if congress doesn't work with him and raise the debt ceiling america will go into default on the loans and we might have to sell florida. so, take goodbye to nanna and papa. >> you can see jimmy kimmel at the new time following the abc7 at 11. >> and the story behind a baby panda high five that >> on the 4th anniversary of the miracle on the hudson, "sully" sullenberger joins katie couric for a great day and reunited with the passengers he saved in the incredible emergency landing on new's hudson river. >> of all people to be piloting that day, thank god, sully, it was you. sometimes i get on a plane and i am like, sully? anybody named sully on this plane? >> i appreciate that. when i travel as a passenger i have people recognize me and they say i feel better knowing you are here. >> we feel the same way, too. that is katie at 3:00 and you can hear more right here on abc7. on abc7 news at 4:00, a hand's on lesson, h
he offered a solution for the president's dilemma on the debt ceiling. >> the final press conference was held this morning and he talked about the debt ceiling announcing if congress doesn't work with him and raise the debt ceiling america will go into default on the loans and we might have to sell florida. so, take goodbye to nanna and papa. >> you can see jimmy kimmel at the new time following the abc7 at 11. >> and the story behind a baby panda high five that >> on...
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. >>> still ahead, debt ceiling deja vu. from social security to interest rates, the president lays down the law and the cuts that could be coming our way. but is the situation as dire as they make it? >>> a somber anniversary in newtown as parents mark one month since their children were killed. their new proposal today and the unthinkable has happened again. a brutal gang rape in india that started with just a bus ride next in "world tonight." >>> also, he used to shoot with his gun. now this former cop uses his camera to shoot 49ers games. >>> welcome back. now if you thought the doomsday scenarios were bad under the fiscal cliff, just wait for what's coming next. >> the debt ceiling talks are under way. president obama warns the dire consequences if congress fails to raise our borrowing limits. in tonight's reality check, sam brock explains why most people should just take a deep breath. sam? >> raj, it would be therapeutic if nothing else. there is certainly little refuting the failure to raise the debt ceiling would se
. >>> still ahead, debt ceiling deja vu. from social security to interest rates, the president lays down the law and the cuts that could be coming our way. but is the situation as dire as they make it? >>> a somber anniversary in newtown as parents mark one month since their children were killed. their new proposal today and the unthinkable has happened again. a brutal gang rape in india that started with just a bus ride next in "world tonight." >>> also, he...
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we hit that debt ceiling and now it's about the debt limit. >> we hit it in technically in december but in order to keep paying the bills the government delayed some payments so it looks like we'll hit that ceiling or that limit again in mid february. congress has got to do something about that. the house is back today. republicans are going to push for spending cuts. remember their mantra has been no more borrowing without limiting what we're spending and among spending cuts they are likely to look at social security this time. >> there's also some trouble on capitol hill ahead of chuck hagel's confirmation hearing. >> the confirmation hearings we have coming up at least three of them. chuck hagel could be the most difficult because democrats and republicans here have some challenges and lots of questions for him. still they say about the stance on iran and things he said about iraq and israel and whether he stands close enough with israel as ally. the white house is confident he'll be confirmed. it's not going to be an easy process. >> one month since the school shooting at sandy hook
we hit that debt ceiling and now it's about the debt limit. >> we hit it in technically in december but in order to keep paying the bills the government delayed some payments so it looks like we'll hit that ceiling or that limit again in mid february. congress has got to do something about that. the house is back today. republicans are going to push for spending cuts. remember their mantra has been no more borrowing without limiting what we're spending and among spending cuts they are...
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on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at all about extending the bush tax cuts. what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. now, you can argue that during the campaign i said -- i set the criteria for wealthy at 250 and we ended up being at 400, but the fact of the matter is, millionaires, billionaires are paying significantly more in taxes, just as i said. so from the start, my concern was making sure that we had a tax code that was fair and that protected the middle class, and my biggest priority was making sure the middle class
on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at...
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he offered a solution for the president's dilemma on the debt ceiling. >> the final press conference was held this morning and he talked about the debt ceiling announcing if congress doesn't work with him and raise the debt ceiling america will go into default on the loans and we might have to sell florida. so, take goodbye to nanna and papa. >> you can see jimmy kimmel at the new time following the abc7 at 11. >> and the story behind a baby [ female announcer ] this is a special message from at&t. [ male announcer ] it's no secret that the price of things just keeps going up. [ female announcer ] but we have some good news. it's our bundle price promise. [ male announcer ] a price you can definitely count on, for two whole years. from at&t. [ female announcer ] a great price for a great triple-play bundle. [ male announcer ] call now. bundles with u-verse tv, internet and home phone start at $89 a month. now get the same great price for two years. [ female announcer ] switch today and get a total home dvr included, free for life. [ male announcer ] you get reliable, high speed inter
he offered a solution for the president's dilemma on the debt ceiling. >> the final press conference was held this morning and he talked about the debt ceiling announcing if congress doesn't work with him and raise the debt ceiling america will go into default on the loans and we might have to sell florida. so, take goodbye to nanna and papa. >> you can see jimmy kimmel at the new time following the abc7 at 11. >> and the story behind a baby [ female announcer ] this is a...
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ceiling. treasury said the move would give it $156 billion in additional spending capacity and insist that retirees will receive benefits. in a letter to john boehner, treasury secretary tim geithner said the step has been taken before during previous impasses over the debt limit. several republican lawmakers are set to direct treasury to prioritize which bills to pay if congress doesn't raise the debt ceiling. let's get you a check on the markets. futures are lower as we get big earnings this morning from jp morgan and goldman sachs. we have jpmorgan lower whereas goldman sachs is higher. stocks advanced yesterday with the dow extending the winning streak to five days and the s&p 500 hitting a five-year high. we get data out on consumer prices, industrial production and housing. watch out for that. back to you. >> seema, thank you very much. it's 5:17. as you know, facebook yesterday announced the new search. we'll look at what it can do in a bit. >> we look forward to that, thanks. >> 5:17 n
ceiling. treasury said the move would give it $156 billion in additional spending capacity and insist that retirees will receive benefits. in a letter to john boehner, treasury secretary tim geithner said the step has been taken before during previous impasses over the debt limit. several republican lawmakers are set to direct treasury to prioritize which bills to pay if congress doesn't raise the debt ceiling. let's get you a check on the markets. futures are lower as we get big earnings this...
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ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they really want to stand their ground on this issue at the risk of economic down tivrnlt i think a lot has to do yes tea party you want to make a case is this the time to do it and right way to do it. that i think is boehner responsibility to explain that to his caucus members. my unitsing that's what he's planning to do over the next couple days. >>reporter: tea party express issued a statement saying it's completely irresponsible for the president of the united states to demagog this issue. the president will have big opportunity to speak to the nation on this if he chooses t t
ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they...
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ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the likelihood is that they are not going to be able to get an assault weapons ban through this congress. >> reporter: moderate lawmakers say there is a better chance of passing laws that limit the number of bullets in ammunition magazines and improve background checks. vice president joe biden is meeting with house members today about gun control. the president said he would give details from the gun violence task force sometime later this week. at the white house, danielle nottingham, cbs 5. >>> the 16-year-old who opened fire
ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the...
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and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if it has dropped. >>> it doesn't look like survivors who filed lawsuits against pg & e are for the deadly san bruno explosion will go to trial. during a hearing in san mateo county superior court today, attorneys said they have come up with a process that should take about 90 days to settle the remaining legal claims. about 320 residents filed suit, and so far mediation efforts have netted settlements for some 120 plaintiff. >>> family members and politicians are calling for more resources to prevent military suicide as the number of suicides last year surged. numbers obtained from the pentagon show there were 349
and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if...
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and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if it has dropped. >>> it doesn't look like survivors who filed lawsuits against pg & e are for the deadly san bruno explosion will go to trial. during a hearing in san mateo county superior court today, attorneys said they have come up with a process that should take about 90 days to settle the remaining legal claims. about 320 residents filed suit, and so far mediation efforts have netted settlements for some 120 plaintiff. >>> family members and politicians are calling for more resources to prevent military suicide as the number of suicides last year surged. numbers obtained from the pentagon show there were 349
and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if...
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debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these problems long term. jenna. jenna: mike, if we're hearing this, then the white house is probably hearing this as well. any reaction from the white house about potentially this plan from republicans? report or the jenna, --. >> reporter: jenna white house officials are saying if congress doesn't want to raise the debt ceiling they should authority rise president obama to do it himself. they should extend it so it doesn't cause concern for the economy and global markets. >> longstanding tradition for the congress to raise the debt ceiling. this is power they have given themselves, the point is without delay. a
debt ceiling discussion, debt ceiling and the fact that the federal government will run out of money at the end of march. >> all those bring a confluence of an opportunity to drive a debate and drive changes that get us towards long-term prosperity and get us off of this notion that we can just continue to borrow and spend. >> reporter: it is clear most republicans want there to be spending cuts as part of these fiscal matters as they work on long-term extensions or solving these...
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the president said he wants to make it clear that raising the debt ceiling will not raise -- he warned that if congressional republicans fail to approve legislation to pay america's bills on time, everything from social security checks to veterans benefits could be delayed. >> last time they flirted with this delay our aaa credit rating was downgraded. our business have created the fewest jobs of any month in the past three years. and ironically the whole fiasco actually haded to the deaf -- actually added to the deficit. >> reporter: president obama is reviewing a list of proposals from joe biden about how to reduce gun violence. the two met earlier today to go over the vice president's recommendations over how to tighten tougher gun laws. among the proposals under consideration are a ban on assault weapons and high capacity ammunition clips. here in the bay area gun buy back is scheduled for tomorrow in marin city. the event offers gun owners $200 to turn in their semi automat weapons. and $100 for other guns. the guns can be brought to police stations in novato, san rafael, and poin
the president said he wants to make it clear that raising the debt ceiling will not raise -- he warned that if congressional republicans fail to approve legislation to pay america's bills on time, everything from social security checks to veterans benefits could be delayed. >> last time they flirted with this delay our aaa credit rating was downgraded. our business have created the fewest jobs of any month in the past three years. and ironically the whole fiasco actually haded to the deaf...
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let's use the sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates one of your colleagues was on the telephone, and he described you, your words, not mine as one tough -- >> his words. >> as one tough bitch. >> yeah. >> and when you heard that, you thought what? >> what in the world is wrong with me? i was a pretty tough negotiator and hard to push around and i don't think they were used to my kind of toughness then. >> is his description in any way unfair? >> probably not. >> she's been called a lot of things, but she told us more than madam justice, she prefers another title. >> it's sonia from the bronx. >> what does it mean to be sonia from the bronx
let's use the sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates...
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. >> president obama making his case for raising the debt ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows the country to pay for spending that congress is committed to. >> he said americans understand the concept. >> you don't go out to dinner and... then, you know eat all you want. and then... leave without paying a check. >> if you do that, it's against the law, said the president. he added if congress fails to raise the debt ceiling american people will pay the price. >> social security checks and veteran benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owner autos again and again, the president repeated the fact raising th
. >> president obama making his case for raising the debt ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows...
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trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used by one person, but many of them were used on multiple people. >> surfers, beware. you have to look at this video. it's shocking. >> standing on the shore? >> he has his toes in the water. two sharks were spotted dangerously close to shore in honolulu. this was off of oahu. they are like ten feet offshore. >> i will call him a dingaling if he is in the water. >> he's a hero. >> there is flooding and ice. from the weather center, you said snow is on the way as well? >> that's right. it's coming to you guys. it's coming into a north and west of new york into connecticut as well. that's not today's concern. we have the s
trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used...
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he talked about the debt ceil saying if congress does not work with him to raise the debt ceiling america will be in default and we my have to sell florida. >> watch jimmy kimmel live weeknights right here on abc7 at the new time following abc7 news at 11 and "nightline" is on right after that. >> lebanese -- leave disneyland and the cracked crab >> welcome back on the 4th anniversary of "miracle on the hudson." "sully" sullenberger joins katie about the incredible emergency landing. >> of all people to be piloting that lane, thank goodness it was you. i get on a plane and i think, sully? anyone named sully on this plane. >> i appreciate that and when i travel as a passenger i have people recognize me and they say i feel better knowing you are here. >> i look for him in the cockpit, as well. that is katie at 3:00 p.m. right here on abc7. >> good show. >> 5:23. great mighting that day. amazing to see the pictures. >> now, outside, it is darn cold. >> do we want do? mike, what are we facing? >> freezing temperatures in a lot of areas but this afternoon we are going to chip away at this air
he talked about the debt ceil saying if congress does not work with him to raise the debt ceiling america will be in default and we my have to sell florida. >> watch jimmy kimmel live weeknights right here on abc7 at the new time following abc7 news at 11 and "nightline" is on right after that. >> lebanese -- leave disneyland and the cracked crab >> welcome back on the 4th anniversary of "miracle on the hudson." "sully" sullenberger joins katie...
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01/13
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ceiling discussion, around the debt ceiling extension, and i share lou's view that, you know, this is really the height of irresponsibility that we're sitting here discussing whether the united states should default or not on its debt which is debt that has been incurred as a result of spending that has been approved by both bodies of congress and signed by the president of the united states, and i mean, there's 535 members of congress. i awe sure you that not a -- i assure you that not a single one of them if confronted with a credit card bill that they didn't like would simply say i'm not going to pay that because they know that the implications for their credit rating, the access to future bank loans would be affected for 10, 15, 20 year, and so it's appalling we're sitting here discussing whether we would do that with, you know, this country that we're all so incredibly proud of so -- >> let me, the last question, try to be a little bit provocative here. folks like allen blinder, very well-republic -- well-respected economist, peter diamond, and blanking the "new york times" econo
ceiling discussion, around the debt ceiling extension, and i share lou's view that, you know, this is really the height of irresponsibility that we're sitting here discussing whether the united states should default or not on its debt which is debt that has been incurred as a result of spending that has been approved by both bodies of congress and signed by the president of the united states, and i mean, there's 535 members of congress. i awe sure you that not a -- i assure you that not a...
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Jan 19, 2013
01/13
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WTTG
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. >> you're also talking about the debt ceiling, three-month extension on that. >> the interesting development is that house republicans had a retreat in williamsburg and just came out with word they want to extend the debt ceiling for about two, three months because they don't -- they want to have a battle over spending with the president but not over the possibility of default. they know that would tank the economy. it would rile up the financial marks. i think they'll kick that down -- markets. i think they'll kick that down the road and have a fight over sequestration. one way or another they'll have a logger head with the president when it comes to cuts and dramatic spending. >> your power play of the week? >> reverend ruiz leon, the church of the president. i've lived in washington 30 plus years and never been inside the church, driven past it plenty. beautiful place. presidents have gone there since 1816. president obama will go there for his preinaugural worship service monday. >> speaking of inauguration, big plans for ask you? are you attending any balls? >> thank god, no. i'm way to
. >> you're also talking about the debt ceiling, three-month extension on that. >> the interesting development is that house republicans had a retreat in williamsburg and just came out with word they want to extend the debt ceiling for about two, three months because they don't -- they want to have a battle over spending with the president but not over the possibility of default. they know that would tank the economy. it would rile up the financial marks. i think they'll kick that...
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Jan 16, 2013
01/13
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i think we should extend if not end the debt ceiling issue. we should just set it aside for a considerable period of time. we should tackle sequestration and we have to do that in the next six weeks. so i'm hopeful that we don't drag this out as some people are saying and then move on to serious discussion of tax reform and entitlement issues. so i see it in a sense the opposite way. i say let it is done, the sequestration part in the debt ceiling in the next six weeks and then move on. those who are you saying let's do a triple by drivel, they are the ones who would be undermining the effort to sit down and had a serious discussion of tax reform. >> we have about two minutes left. francine. >> the question itemized reductions. what is your thought of having a cap and itemized deductions that people use for whatever they want. mortgage or a charity or whatever. >> i think the problem with a cat is that it has to seriously consequence, especially for charitable contributions. because a substantial portion of the charitable contributions come fr
i think we should extend if not end the debt ceiling issue. we should just set it aside for a considerable period of time. we should tackle sequestration and we have to do that in the next six weeks. so i'm hopeful that we don't drag this out as some people are saying and then move on to serious discussion of tax reform and entitlement issues. so i see it in a sense the opposite way. i say let it is done, the sequestration part in the debt ceiling in the next six weeks and then move on. those...
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Jan 17, 2013
01/13
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FOXNEWSW
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the debt ceiling has been in place since 1939. you have competing ideas, one on the house, john boehner said we'll raise the debt sealing a dollar for every dollar you cut spending. republicans out of pennsylvania, pat toomey you prioritize the bills you pay for long period of time. weeks and months. make sure the military is taken care of. >> sure. bill: would you back house idea or senate idea or neither? >> i think both are part of the negotiation strategy. i think john boehner's plan to bring down spending dollar for dollar makes a lot of sense and i think pat toomey's does. you don't want to cut very things most critical to the u.s. there is lot of garbage spending in government, believe me, bill, when i say that. why would you make the critical spending the first things you're going to cut except just to hold the country hostage. that is what the democrats are threatening. it doesn't make sense. bill: do you think republicans can win on either option? >> if they do it carefully, slowly and comfortably, yes i do think they ca
the debt ceiling has been in place since 1939. you have competing ideas, one on the house, john boehner said we'll raise the debt sealing a dollar for every dollar you cut spending. republicans out of pennsylvania, pat toomey you prioritize the bills you pay for long period of time. weeks and months. make sure the military is taken care of. >> sure. bill: would you back house idea or senate idea or neither? >> i think both are part of the negotiation strategy. i think john boehner's...
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Jan 21, 2013
01/13
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KQED
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house will vote wednesday on raising the national debt ceiling. republican leaders announced today the extension lets the government continue borrowing money until may 19. the current debt ceiling-- $16.4 trillion-- could be reached as early as mid-february. the house bill does not specify a new dollar amount. it does mandate that congress approve budgets, or lawmakers won't be paid. major league baseball lost two hall of famers over the weekend. st. louis cardinals great stan musial-- "stan the man"-- died saturday at his home just outside the city. he played 22 years, helping the cards win three world series titles in the 1940's. he was widely regarded as one of game's greatest hitters ever. stan musial was 92 years old. also saturday, former baltimore orioles manager earl weaver passed away, during a caribbean cruise. weaver won the world series in 1970, and took his teams to three others. along the way, he gained fame for his fiery, in-your-face confrontations with umpires. he was ejected from games 91 times over 17 seasons. earl weaver was 82
house will vote wednesday on raising the national debt ceiling. republican leaders announced today the extension lets the government continue borrowing money until may 19. the current debt ceiling-- $16.4 trillion-- could be reached as early as mid-february. the house bill does not specify a new dollar amount. it does mandate that congress approve budgets, or lawmakers won't be paid. major league baseball lost two hall of famers over the weekend. st. louis cardinals great stan musial--...
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Jan 14, 2013
01/13
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KTVU
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the other thing coming up is the debt ceiling. something most americans had not even heard of before two years ago. i want to be clear about this -- the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it aallows the -- it allows the country to pay for spending that congress has already attended to. these are bills that we need to pay. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with congress about whether or not they should pay the bills they've already racked up. if congress am republicans refuse to pay america's bills on time, social security and veterans benefits will be delayed. we might not be able to pay our troops, small business owners, food inspectors, air traffic controllers, specialists who track down loose nuclear materials wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go hayw
the other thing coming up is the debt ceiling. something most americans had not even heard of before two years ago. i want to be clear about this -- the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it aallows the -- it allows the country to pay for spending that congress has already attended to. these are bills that we need to pay. so while i'm willing to compromise and find common ground over how to reduce our deficits,...
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Jan 16, 2013
01/13
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KRON
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earlier, we said that as we do with the debt ceiling once again we're going as more of a debt popple. this higher interest rate proposal would be devastating for the economy. >> and how about ball mark? >> yes, they have pledged to hire 100,000 veterans that are returning from the war over the next five years. and a job is a job, let us just remember that even if is a transition jobs. soldiers are known for their commitment, sacrifice. wal- mart believes that the leadership to want to be seen as a blue-chip company. >> thank you, rob. and now, coca-cola we all know that obesity is a huge health problem in the u.s. and now - the people at coca-cola seem to be joining the fight against calories. but many wonder if this is really just an example of good marketing. felicia taylor has the story. pay attention to the man walking away from the camera. let's stop the video right here now the question is will the postal truck do the right panel also, coca-cola still seeing increases with their non-cola items. the company is already getting cal ripken to the front of their labels. felicia taylo
earlier, we said that as we do with the debt ceiling once again we're going as more of a debt popple. this higher interest rate proposal would be devastating for the economy. >> and how about ball mark? >> yes, they have pledged to hire 100,000 veterans that are returning from the war over the next five years. and a job is a job, let us just remember that even if is a transition jobs. soldiers are known for their commitment, sacrifice. wal- mart believes that the leadership to want...
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Jan 15, 2013
01/13
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KPIX
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you say fighting over the debt ceiling is a bad idea for congressional republicans. why? >> because in the end it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side and the fact is republicans have two much bet ear renas to fight over spending they have a continuing resolution which funds government which comes up at the end of march and they have the sequester, which automatically cuts spending unless it's dealt with. those two fronts they can fight and they have much less resistance from the average american, and it's much harder for the president to oppose them. >> speaker boehner said yesterday that the american people do not support raising the debt ceiling without reducing government spending at the same time. so do you disagree with speaker boehner? >> i think that if you get involved in a fight over the debt ceiling, and talking about defaulting which is what the consequences if the
you say fighting over the debt ceiling is a bad idea for congressional republicans. why? >> because in the end it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side and the fact is republicans have two much bet ear renas to fight over spending they have a continuing resolution which funds government which...
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Jan 14, 2013
01/13
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KRON
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that are ready been racked up. we need to pay them. i am willing to compromise and find a common ground on how to reduce our deficit america cannot avoid another debate with this progress about whether or not they should pay the bills that they have already racked up. if congressional republicans refused to pay america's bills on time, so security checks and veterans' benefits will be delayed. we may not be able to pay our troops or on our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down those of nuclear materials would not get their paychecks. the rest of the world would ask if the united states of america is in fact a stay at bat. market to go haywire and as rates could spike for anyone. it would be a self- inflicted wound on the economy. that would slow down our growth and tip into recession. ironically, it would increase
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that are ready been racked up. we need to pay them. i am willing to compromise and find a common ground on how to reduce our deficit america cannot avoid another debate with this progress about whether or not they should pay the bills that they have already racked up. if congressional republicans refused to pay america's bills on...
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Jan 14, 2013
01/13
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CNNW
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debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had the package put together by the vice president is on his desk today. and he will talk about it a little later on this week. want to bring in two people here, ali velshi with me from new york, and gloria borger there in our nation's capital, to you both welcome. ali, it has been more than a year since that whole previous debt limit debacle. and i know you are saying, especially comparing this to what we just saw on new year's day with the fiscal cliff, this is going to be much, much worse, much bigger deal. talk to me ab
debt ceiling. this time around, the president is telling house republicans they can do it his way or own the blame. here he was. >> and republicans in congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> also, need to tell you the president did speak about his gun violence effort. he's had...
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Jan 15, 2013
01/13
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KRON
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their debt ceiling debate may have ended higher with their ball recalls perry ebauer arena cost >> here is the bottom line right now, we have debt problems and the united states. we are borrowing at a record low. we go bankrupt and we shut down our country and we lose everything we are definitely needing to start to think about how to cut down spending very at just like mortgage rates will go higher. it is coming. >> it is like getting a credit card and 1%. when the federal government is one it is okay. it is a good time to borrow. but when it is 8% you do not want to the ballroom. >> a another winner is a the driverless cars that are coming to show rooms by 2020. there is a huge an initiative by the government. i keep coming back to, how about this. what about the older people that should not be driving. people want to keep their mobility. my mother can get in a car in the of the take herself to the rose restore. i like this idea. we will see more and more features of this. >> i'm let's talk about our questions. you can send in your questions for rob perry ed >> this is from steve. he
their debt ceiling debate may have ended higher with their ball recalls perry ebauer arena cost >> here is the bottom line right now, we have debt problems and the united states. we are borrowing at a record low. we go bankrupt and we shut down our country and we lose everything we are definitely needing to start to think about how to cut down spending very at just like mortgage rates will go higher. it is coming. >> it is like getting a credit card and 1%. when the federal...
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Jan 19, 2013
01/13
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FOXNEWS
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we have already spent that money so you have to raise the debt ceiling. some people say stop the madness. whever the repercussions are stop it, cap it now. if we have to default we will. maybe we can skirt default somehow. seem like majority of respondents feel that way. >> 83% say spending is out of control. of that wonder i wonder how many have idea how big the debt is 16. it doesn't matter in absolute dollars this is the biggest debt that's ever existed and our credited rating has been down graded as a result of it? >> i remember as a kid i don't know elementary school or junior high when bewere talking about the debt it was something like 4 trillion. and our teachers asked us to wrap our heads around that number. try wrapping your head around 16 trillion. i just can't imagine. to pay that down how many years that would take. even with being smart with government spending. >> it's larger than our entire economy just to put it in some scale here. >> that's a problem. yeah. i remember when i was a kid going to the gas station and thinking wow why the tim
we have already spent that money so you have to raise the debt ceiling. some people say stop the madness. whever the repercussions are stop it, cap it now. if we have to default we will. maybe we can skirt default somehow. seem like majority of respondents feel that way. >> 83% say spending is out of control. of that wonder i wonder how many have idea how big the debt is 16. it doesn't matter in absolute dollars this is the biggest debt that's ever existed and our credited rating has been...
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Jan 14, 2013
01/13
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FOXNEWSW
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the debt ceiling and the battle over that that will play out over the next 60 days. it strikes me that if you do not put the economy on a firmer foundation none of this means anything, does it. >> reporter: you know, bill, you would think so. i think that one of the things that's happened here is because the economy did not really recover in the way we accustomed to before the 2012 election one imagined that president obama would be in all sorts of political trouble and a likely looser. a lot of us thought that, including me. well he won. this president may now have the view that he can defy political gravity and if the economy doesn't get a lot bet and it limps along at its anemic rate of growth his party can survive all that and he can go forward with an aggressive a skwrepbd today, he really does have a bigger mandate than you would think looking at the vote totals that he has, he has the republicans on defense and it's time to go for it, and if they buck him they will be the ones that pay the price in the mid-term elections in two years putting him in an even str
the debt ceiling and the battle over that that will play out over the next 60 days. it strikes me that if you do not put the economy on a firmer foundation none of this means anything, does it. >> reporter: you know, bill, you would think so. i think that one of the things that's happened here is because the economy did not really recover in the way we accustomed to before the 2012 election one imagined that president obama would be in all sorts of political trouble and a likely looser. a...
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Jan 15, 2013
01/13
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KTVU
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s&p down 4. >>> ben bernanke thinks congress should raise the debt ceiling. that was the message, the federal reserve chairman delivered -- delivered at the university of michigan. he said congress needs to act quickly. they want to avoid a credit rating change and that could affect the economy. >>> the cold weather definitely having an impact on the central valley which grows about 8% of the country's fruits and vegetables. one family farm is in newcastle, california. that's about off 80 on the way to tahoe. farming is a tricky business. now, this cold weather is actually good news for their crop of mandarins but only to a point. >> whatever doesn't kill them makes them sweeter. so if you can get the mandarins as close to frozen as you can but not frozen, the trees push sugar into the fruit and it increases the quality of the fruit. >> analysts say orange and lemons are most vulnerable. that means higher prices. strawberries, avocados, affected as well. for avocado, one farmer says if the trees get damaged production is down for the whole year. in the next h
s&p down 4. >>> ben bernanke thinks congress should raise the debt ceiling. that was the message, the federal reserve chairman delivered -- delivered at the university of michigan. he said congress needs to act quickly. they want to avoid a credit rating change and that could affect the economy. >>> the cold weather definitely having an impact on the central valley which grows about 8% of the country's fruits and vegetables. one family farm is in newcastle, california....
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Jan 21, 2013
01/13
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MSNBCW
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they have announced to be taking a vote on the debt ceiling. so it just -- >> on wednesday. >> only gets better. >> yeah. at this point, we are in the middle of a process of governing that's going to get very hot very fast this week with the debt ceiling vote in the house and potentially a filibuster vote in the senate. the president speaking to some of those matters at least in the second inaugural. not a state of the union but had a lot of specifics in it. you are watching msnbc's live continuing coverage of president obama's second inauguration. we'll be right back. have given way to sleeping. tossing and turning where sleepless nights yield to restful sleep. and lunesta®(eszopiclone) can help you get there. like it has for so many people before. when taking lunesta, don't drive or operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggres
they have announced to be taking a vote on the debt ceiling. so it just -- >> on wednesday. >> only gets better. >> yeah. at this point, we are in the middle of a process of governing that's going to get very hot very fast this week with the debt ceiling vote in the house and potentially a filibuster vote in the senate. the president speaking to some of those matters at least in the second inaugural. not a state of the union but had a lot of specifics in it. you are watching...
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Jan 21, 2013
01/13
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KPIX
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be held wednesday to raise the debt ceiling temporarily. why would they do something like this, which might seem at first blush to be backing down. there were a couple of reasons, scott. first of all they looked at polling when they were out there at that retreat it looks like the polling that you were just talking about. it showed that americans by a pretty significant margin trust the president over house republicans when it comes to things like the deficit which is one of their signature issues. and spending and the economy. what republican leaders were trying to convey to some of their more junior members, perhaps who like the idea of really holding the white house's feet to the fire on issues like this, if we want to be seen as a governing party not just an opposition party that is constantly threatening to take the government in to a shutdown or default we are going to have to show that we are reasonable. and the fact is that they are going to hold this vote now and they still get another bite of the apple three months from now to try
be held wednesday to raise the debt ceiling temporarily. why would they do something like this, which might seem at first blush to be backing down. there were a couple of reasons, scott. first of all they looked at polling when they were out there at that retreat it looks like the polling that you were just talking about. it showed that americans by a pretty significant margin trust the president over house republicans when it comes to things like the deficit which is one of their signature...